Its interesting to see how Bitcoin price is playing these days. The sharp rise and decline is continue in its price. Sometimes Bitcoin price is decreased more than 5% in a day and sometimes it increases with the same percentage. This is something that has put investors and traders into confusion.
When discuss about the last 24 hours, Bitcoin price has recovered from $62k to $65k. In the last seven days the price has been moving in between $69k and $62k. The big green and red candles have been farmed during these moves.
Bitcoin is now trading at $63180 with a 1.5% decline which has pushed down the whole market. Altcoins have observed a massive decline in their prices since Bitcoin has come down. Bitcoin right now is 13% down from its all time high value which is $73700.
Ethereum which is the second largest crypto by marketcap is also down by 3% today after following bitcoin price moves. In the last seven days its price has dropped from 3400 to $3050. This is a significant drop in its price.
Few days back ,Bitcoin price was going well upward when it reached $69k , a news surfaced on social media platform X that US government is about to sell 30,000 bitcoin seized from the silk road dark website ,this news caused panic among the cryptocurrency investors as a result Bitcoin price dropped suddenly. Abd we know when Bitcoin price is dropped then altcoins suffers badly.
These type of news causes fear which leads to dump in the market irrespective of the authenticity of the news. Since this news bitcoin is struggling to get back to $70 due to strong resistance .
Before this German government sold their Bitcoin which put significant pressure in the market and we witnessed Bitcoin dropped to $53k. But good thing is that Bitcoin recovers back quickly whenever the price is dropped. This is the beauty of King Bitcoin.
Remember one thing that when one sells , others buy. It is good for the healthy system to get rid of the weak hands. Selling bitcoin now is a foolish move when the adoption is getting started. Just know that Bitcoin is born to remove the financial gap.
When you do proper research about Bitcoin only then you will know the true purpose of its creation. If you are buying bitcoin for temporary gains then you are at big mistake and dont know about its importance. Interacting with Bitcoin without knowing about its importance is useless as you cannot enjoy the real benefits this way.
Considering the fact that Bitcoin has a limited supply of 21 million , it would be stupid thing to abandon it. Bitcoin is not like fiat. There will never be more of it. No one can print more Bitcoin. Bitcoin is going to be the next digital gold.
If you dont own any Bitcoin, you gonna regret in the future just like the people who ignored it in the past and regret now. Bitcoin is the future of Finance.
Thats it for today. Thanks for reading. What do you think about my today's topic? Let me know your thoughts in comment section. In the end i would like to Wish you and your family a happy day ahead. Stay Blessed.
Motivation Dose
Get out of your comfort zone and fight the troubles and hurdles that come your way to success. Success awaits you. Life is beautiful ، live it to the fullest. Dont be hopeless. Stand strong in the ups and downs of life as its part of life. There is always a light behind every dark side.
About Author
@coolguy222 is a crypto trader and content creator on hive blockchain. He also runs a small business of Mobile accessories and Wrist watches. He loves to make new friends.
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